CALGARY, May 10 /CNW/ - The Alberta Securities Commission (ASC) has extended an Interim Cease Trade Order against CNF Candy Corp. based on evidence that the Ontario-based company appeared to be engaging in illegal trading and distribution of securities in Alberta. The extended Interim Cease Trade Order remains in effect until a hearing into this matter is concluded and a decision is rendered, or until otherwise ordered by the ASC.
The extended Interim Cease Trade Order prohibits all trading in securities issued by CNF Candy Corp. The order also prohibits CNF Candy Corp. from trading in any securities and relying on any Alberta securities laws exemptions. An ASC panel extended the Interim Cease Trade Order after hearing evidence from ASC staff that CNF Candy Corp. appeared to be trading in and distributing securities to Albertans without registration, a prospectus or use of an applicable exemption.
The British Columbia Securities Commission has also issued a Cease Trade Order that prohibits the trading in CNF Candy Corp. securities in British Columbia until certain conditions are met.
Copies of the Extended Interim Cease Trade Order, Interim Cease Trade Order and Notice of Hearing related to this case can be found at www.albertasecurities.com.
The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted to foster a fair and efficient capital market in Alberta and to protect investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.
SOURCE Alberta Securities Commission
For further information: For further information: For Media Inquiries: Mark Dickey, Senior Communications Advisor, (403) 297-4481; For Investor Inquiries: ASC Public Inquiries, Toll Free 1-877-355-4488